Hello Traders, I’m Mani and I’m the writer of Trade 77 section, please follow me on twitter for further updates.
After this massive move down because of the great weakness of Cable, now I expect a retrace from here.
As you can see in the chart above there are three important areas which price has reached them and now struggling there and is indicating a possible retrace with forming a short bounce now.
1.5350, daily trendline and daily 200sma are those important areas I mentioned. I like long scalp positions here with tight stops and I don’t like swing trades now.
Stops should be below the trendline and ultimate target would be 1.5500 and 1.5550.
Make sure that you are following me on twitter so you can be informed of any trade calls for this pair and if you found this post useful let your followers to read it too, so please retweet this article with the button above of the article.
Latest posts by admin (see all)
- Using Simple Moving Averages to clarify the Forex Market - November 13, 2017
- The Huge Benefits of Being a Scalper - November 6, 2017
- The ADX Methodology for Analysis, the Strengths and Values - November 4, 2017
Winner’s Edge Trading, as seen on: